Forthrightness prevails in our judicial system: Ratan Tata

By NT Bureau Published on Jul 10, 2018 03:07 PM IST

Chennai: After Cyrus Mistry's petition against his removal as Tata Sons' chairman two years was deemed by the National Company Law Tribunal (NCLT) to have 'no merit', Ratan Tata has issued a statement regarding the matter.

"The judgement of the NCLT, has been a vindication of the actions that Tata Sons felt obliged to take in October 2016. It is a reinforcement of the principles and forthrightness that prevails in our judicial system, which should make all of us proud of our country and its democracy," said chairman of Tata Trust, Ratan N Tata.

The NCLT on Monday had said the board of directors is competent to remove its executive directors and Mistry was ejected "because a majority of the board members had lost confidence in him after he sent out certain crucial information to the Income Tax department, leaked details to the media and came out openly in public against the company's shareholders and its board."